3 tax questions
Kevin Woods (kswoods@CHRISTA.UNH.EDU)
Tue, 27 Apr 1999 11:20:46 -0400
1. Our Treasurer has been told by HR Block, that if our checking account
has over $$$ in DEPOSITS (I'm sorry, I cannot remember the figure although
it was rather large) than even as a non-profit, with a correct tax exempt
id, we would be required to file form ######????(you don't expect me to
remember this number do you?) It is supposed to be a federal, not state form.
Does anyone have experience with this?
2. For years I have "heard" that a units accounts should equal "0" at the
end of its fiscal year. That your accounting should show a zero balance.
I have never seen this happen. Nor have I seen it (As I so Like to
express):) in writing
Does anyone have experience with this?
3. Can anyone tell me what a units "Fiscal year" is? Is it charter year?
Is it calendar year? Is it the same as our councils fiscal year?
Thank you very much!
Kevin Woods
Troop 111
